The Silicon Review

Retail Sector Is Taking Giant Strides in the Asia Pacific Region

The Silicon Review01 October, 2019

Investment opportunities in the Asia Pacific region are steadily rising and it is being touted as the fastest growing economy in the world. Due to the inflow of domestic and foreign funds, the Asians are becoming more financially prudent and they are labeled as an emerging economy. In the next 10 years, the emerging economy will be responsible for 60 percent of global growth, and as per Swiss Re institute’s study,China will contribute 27 percent of it. China’s clash with the U.S. over trade tariffs have opened up avenues for countries like Singapore, Vietnam, and Indonesia to take lead in the homegrown solution to problems and tech innovations.

Tech innovations spearheaded by Japan, South Korea, India, Singapore, Taiwan, and Indonesia is rapidly developing in the field of AI and VR world. The retail sector is also gaining traction in Asia and with its specifics of goods consumption; India is expected to be the next big market for e-commerce. Indonesia is well poised to achieve massive growth in the delivery and logistics sectors. Statista reported that by 2023, the delivery and logistics market would be valued at $16.34 billion in Indonesia. However, China is still a leader in offline to online business model and it is expected to continuously evolve to stay updated.